Signs Memorandum of Understanding (MoU) with WadzPay to onboard world’s first cross-border private blockchain tokenization solution
BPKH SELECTS WADZPAY’S UNIQUE BLOCKCHAIN-BASED PILGRIM PROGRAM TO CREATE CASHLESS JOURNEY FOR INDONESIA’S HAJJ AND UMRAH PILGRIMS
Signs Memorandum of Understanding (MoU) with WadzPay to onboard world’s first cross-border private blockchain tokenization solution
PADANG, Indonesia, Nov. 20, 2023 (GLOBE NEWSWIRE) — WadzPay, a leading innovator in blockchain based payments technology, is proud to announce its strategic partnership with BPKH (Badan Pengelolaan Keuangan Haji), responsible for managing Hajj finances in Indonesia. This collaboration enables cashless digital payment solutions for Indonesian pilgrims undertaking the sacred Hajj and Umrah journeys to Saudi Arabia.
BPKH performs Hajj Financial Management based on sharia principles, prudential principles, benefits, non-profit, transparency and accountability.
“We’re proud to join hands with BPKH in this transformative partnership. Combined with BPKH’s vision and WadzPay’s blockchain-based Pilgrim Program for payments, we aim to empower pilgrims, streamline transactions, and enrich their journeys,” said Anish Jain, Founder and Group CEO at WadzPay.
WadzPay shall serve as the overall program manager while BPKH plans an immediate pilot project through one of their member banks, aiming to make e-wallets accessible to the majority of pilgrims for the 2024 Hajj season.
WadzPay’s Private blockchain-based Pilgrim Payment Program is a game changer and world’s first cross border cashless Hajj and Umrah solution offering ease of operations for issuance institutions, pilgrims as well as merchants. The SaaS based platform can be easily leveraged by multiple issuer institutions in any country to link with the merchants in Saudi Arabia allowing pilgrims to top-up their e-wallets in the home country and spend like a “local” during the actual pilgrimage.
With this partnership, Indonesian banks will become early adopters of WadzPay’ s future-ready offering.
“We’re thrilled to modernize Hajj and Umrah finances, enhancing welfare and pilgrim satisfaction. This partnership shall drive transparency and financial inclusivity,” said Muhammad Thabrani Nuril Anwar, Head of BPKH Collection Division.
WadzPay was founded in 2018 in Singapore with a commitment to drive financial inclusion and revolutionise the virtual asset landscape. It is a leading global blockchain-based payments technology provider. The company’s innovative platform available as a SaaS offering provides secure, efficient, and transparent payment solutions, catering to businesses (B2B) and consumers (B2B2C). WadzPay works with large international payment companies, banks, and fintech’s to enable virtual asset-based transaction processing, custody, and settlement. It operates across geographies spanning Asia Pacific, the Middle East, Africa, Europe, and the Americas.
For more information, visit www.wadzpay.com
Badan Pengelolaan Keuangan Haji (BPKH) is an institution established according to the Republic of Indonesia Presidential Regulation Number 110 of 2017 concerning the Hajj Fund Management Agency. This agency oversees the finances of the Hajj in Indonesia. Hajj Finance encompasses all the rights and obligations of the government that have monetary value related to the organization of the Hajj pilgrimage. It also includes all assets, whether in the form of money or goods that can be valued monetarily, resulting from the execution of these rights and obligations. These financial resources stem from Hajj pilgrims and other legitimate sources.
For more information, visit www.bpkh.go.id
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Arijit Das
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